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Segment Reporting

9 Months Ended

Sep. 30, 2022

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Segment Reporting

14.SEGMENT REPORTING

Under ASC Topic 280, Segment Reporting, certain information is disclosed for the two reportable operating segments of Bancshares: the Bank and ALC. The reportable segments were determined using the internal management reporting system. These segments comprise Bancshares’ and the Bank’s significant subsidiaries. The accounting policies for each segment are the same as those described in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2021. The segment results include certain overhead allocations and intercompany transactions that were recorded at current market prices. All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the tables below.

										All
		Bank				ALC				Other				Eliminations				Consolidated
		(Dollars in Thousands)
As of and for the three months ended September 30, 2022
Total interest income		$	9,875			$	1,026			$	1			$	(232	)		$	10,670
Total interest expense			1,041				231				115				(232	)			1,155
Net interest income			8,834				795				(114	)			—				9,515
Provision for loan and lease losses			840				325				—				—				1,165
Total non-interest income			1,102				43				2,145				(2,202	)			1,088
Total non-interest expense			6,421				397				255				(41	)			7,032
Income before income taxes			2,675				116				1,776				(2,161	)			2,406
Provision for income taxes			600				28				(82	)			—				546
Net income		$	2,075			$	88			$	1,858			$	(2,161	)		$	1,860
Other significant items:
Total assets		$	993,194			$	23,544			$	98,769			$	(126,230	)		$	989,277
Total investment securities			145,902				—				1				—				145,903
Total loans, net			740,418				22,478				—				(21,998	)			740,898
Goodwill and core deposit intangible, net			7,856				—				—				—				7,856
Investment in subsidiaries			—				—				91,575				(91,575	)			—
Fixed asset additions			331				—				—				—				331
Depreciation and amortization expense			413				9				—				—				422
Total interest income from external customers			9,645				1,025				—				—				10,670
Total interest income from affiliates			231				—				1				(232	)			—
For the nine months ended September 30, 2022
Total interest income			26,503				3,911				3				(841	)			29,576
Total interest expense			2,185				838				344				(841	)			2,526
Net interest income			24,318				3,073				(341	)			0				27,050
Provision for loan and lease losses			1,185				1,596				—				—				2,781
Total non-interest income			2,833				173				5,511				(5,744	)			2,773
Total non-interest expense			18,899				1,379				854				(166	)			20,966
Income before income taxes			7,067				271				4,316				(5,578	)			6,076
Provision for income taxes			1,646				65				(271	)			—				1,440
Net income		$	5,421			$	206			$	4,587			$	(5,578	)		$	4,636
Other significant items:
Fixed asset additions		$	672			$	—			$	—			$	—			$	672
Depreciation and amortization expense			1,173				28				—				—				1,201
Total interest income from external customers			25,666				3,910				—				—				29,576
Total interest income from affiliates			838				—				3				(841	)			—

										All
		Bank				ALC				Other				Eliminations				Consolidated
		(Dollars in Thousands)
As of and for the three months ended September 30, 2021
Total interest income		$	8,134			$	2,302			$	1			$	(407	)		$	10,030
Total interest expense			696				406				—				(407	)			695
Net interest income			7,438				1,896				1				—				9,335
Provision for loan and lease losses			460				158				—				—				618
Total non-interest income			776				176				1,111				(1,167	)			896
Total non-interest expense			6,211				2,100				354				(118	)			8,547
Income before income taxes			1,543				(186	)			758				(1,049	)			1,066
Provision for income taxes			336				(47	)			(60	)			—				229
Net income		$	1,207			$	(139	)		$	818			$	(1,049	)		$	837
Other significant items:
Total assets		$	959,978			$	48,693			$	94,718			$	(146,655	)		$	956,734
Total investment securities			121,386				—				81				—				121,467
Total loans, net			691,106				46,645				—				(40,779	)			696,972
Goodwill and core deposit intangible, net			8,142				—				—				—				8,142
Investment in subsidiaries			—				—				89,088				(89,088	)			—
Fixed asset additions			107				2				—				—				109
Depreciation and amortization expense			401				21				—				—				422
Total interest income from external customers			7,728				2,302				—				—				10,030
Total interest income from affiliates			406				—				1				(407	)			—
For the nine months ended September 30, 2021
Total interest income			24,138				7,045				5				(1,254	)			29,934
Total interest expense			2,228				1,249				—				(1,254	)			2,223
Net interest income			21,910				5,796				5				—				27,711
Provision for loan and lease losses			1,280				237				—				—				1,517
Total non-interest income			2,389				480				3,608				(3,821	)			2,656
Total non-interest expense			18,853				5,749				1,102				(362	)			25,342
Income before income taxes			4,166				290				2,511				(3,459	)			3,508
Provision for income taxes			895				72				(199	)			—				768
Net income		$	3,271			$	218			$	2,710			$	(3,459	)		$	2,740
Other significant items:
Fixed asset additions		$	642			$	6			$	—			$	—			$	648
Depreciation and amortization expense			1,231				69				—				—				1,300
Total interest income from external customers			22,889				7,045				—				—				29,934
Total interest income from affiliates			1,249				—				5				(1,254	)			—

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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